In Honduras, rebates and discounts applied to sales should be detailed on the invoice, a change with which the business sector would disagree if the government decides to collect taxes on the discounted amount.
On March 1, the changes to the invoices, which were imposed by Agreement 817-2018, came into effect. Among them, it is important to note that the fields for discounts and rebates must be included in the format of the document.
Business people are complaining that the recurrent failures in the new online system known as the Revenue Management Service is causing losses because of delays in billing.
The new system requires all registered entities to use the documentation demanded by the Revenue Management Service (SAR by its initials in Spanish), for which printing houses certified in fiscal registry have to connect to the system for authorization from the SAR, and it is precisely this part of the process that is failing.
Electronic invoices not only reduce operational and administrative costs but also produce better competitiveness among businesses by increasing fiscal transparency in the market.
The slow pace with which the process for establishing the mandatory use of electronic invoices in Costa Rica has been carried out has prevented companies and the treasury itself, from being more efficient, in the first case in terms of controls and in the second of the collection of taxes.
A new billing system is in effect and all registered companies are required to provide receipts using the new documentation required by the Executive Directorate of Revenue.
Despite widespread opposition from the private sector, who assert that the payments of sales tax by companies who turnover at least $16,000 a year will have serious negative effects, the new billing system implemented by the Executive Directorate of Revenue (DEI) has come into effect.
From January to April 2015 2,785 new companies were registered in the Registry of Honduras , 47% more than recorded in the previous year.
The increase has been attributed to the new electronic billing system implemented by the Executive Department of Revenue (DEI), according to representatives from the Chamber of Commerce and Industry of Tegucigalpa (CCIT).
The Honduran Congress has urged the tax authorities to postpone the implementation of the new billing system until January 1, 2016.
In response to pressure from the private sector, Congress passed a motion that the Executive Revenue postpone to January 2016 implementation of the new billing system.
The new system has been opposed by the business community in particular with regard to the obligations incurred by small and micro enterprises.
The industrial sector has announced a request to amend Regulation of the Billing Act to raise from $16 thousand to $228 thousand the minimum annual basis required by companies to use the electronic system.
The National Association of Industrialists (ANDI) has also requested an extension of at least eight months, in the implementation of the new billing system.
From April 1st 2015 the only documents needed to send products to the Indian market will be the air declaration, the commercial invoice and bill of entry.
From a statement issued by the Costa Rican Foreign Trade Promotion Office (Procomer):
India has decided to simplify procedures for imports, which will reduce costs and time and aims to improve the country's position in the ease of doing business list produced by the World Bank.
Printing of various tax documents must be done using printers previously authorized by the Executive Directorate of Revenue.
Raising revenue, regulating printing documents and reducing tax evasion, is the aim of the Directorate of Revenue (DEI) with the implementation of a new system for authorization of printing tax registration documents directed at the 400 print shops that registered in the census in 2013, who design and print invoices, receipts, bills of exchange and checks.
Issuers of invoices, receipts and other tax documents may only print on approved printers.
A new billing system that will be implemented by the Executive Directorate of Revenue (DEI) aims to reduce evasion of Sales Tax. "... it will control and regulate the printing of tax documents, such as bills, notes, tickets, rent receipts, fees, debit notes, credit, reference guides, proof of tax on earnings ...", noted an article in Latribuna.hn .
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...